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Sri Lanka's Walkers Shipyard to get US$4mn from ADB

Dec 04, 2017 11:24 AM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - Sri Lanka's Walkers Shipyard (Pvt) Ltd said it has inked a deal to get a 4 million US dollar loan from the Manial-based Asian Development Bank.

The loan will be invested to at its Colombo shipyard which will have a shiplift and transfer system to handle vessel of up to 70 metres in length and weighing up 1,250 tonnes.

"We have driven the diversification strategy of the Group over the past few years and this is one of the many initiatives underway that has come to fruition," Jehan Amaratunga, Group Executive Deputy Chairman of MTD Walkers Plc, said in a statement.

The proposed loan will be the first ADB non-sovereign infrastructure loan in Sri Lanka since 2000, Walkers MTD said. (Colombo/Dec03/2017)